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Dubai Family Ownership of Common Property Law
Afridi & Angell, September 2020

On 13 August 2020, the Ruler of Dubai issued Law 9 of 2020 to regulate family ownership of common property in the Emirate of Dubai (the Law). The Law aims to establish a legal framework for family ownership of common property in Dubai and to facilitate its transmission among successive generations. This concept of undivided family assets introduced by the Law also exists in other jurisdictions. There are many family run businesses in Dubai...

SEC Adopts Significant Amendments to Regulation S-K and Accredited Investor and Qualified Institutional Buyer Definitions
Waller, September 2020

The U.S. Securities and Exchange Commission (SEC) has adopted several significant amendments affecting disclosure requirements under Items 101, 103 and 105 of Regulation S-K and also expanded the definitions of “Accredited Investor” and “Qualified Institutional Buyer” under Rule 501(a) and Rule 144A, respectively. As SEC Chairman, Jay Clayton, announced in the press release, Items 101, 103 and 105 have not undergone significant revisions in over 30 years...

‘Retire in Dubai’ Programme Announced in Dubai
Afridi & Angell, September 2020

Afridi & Angell was pleased to have advised Dubai Tourism on the testamentary and inheritance framework in Dubai in the process leading up to the much-welcomed announcement of the ‘Retire in Dubai’ programme. The announcement, made on Wednesday 2 September 2020 offers resident expatriates and foreigners aged 55 and above an opportunity to retire in the Emirate. As part of the programme, eligible applicants will be provided a Retirement Visa, renewable every five years...

DOJ Clarifies Guidelines on Settling Cases Based on Ability to Pay
Waller, September 2020

In early September, the Department of Justice issued additional guidance that the Commercial Litigation Branch can consider when settling cases for less than the full amount of the claim based on the defendant’s inability to pay. Under its statutory authority, the Civil Division has the ability to settle claims for less when an entity offers the maximum amount that it is able to pay and the federal government is acting as plaintiff...

Practical Strategies to Limit Premises Liability Claims Involving COVID-19
Haynes and Boone, LLP, September 2020

Businesses that open their doors to customers, guests, and other visitors during the pandemic must be vigilant, not only to keep their premises safe to those who enter, but also to avoid lawsuits by individuals who claim they contracted COVID-19 on business premises...

The Freezing of Customer Bank Accounts for Money Laundering Reasons
Deacons, September 2020

There a number of reasons why Hong Kong banks freeze a customer’s bank account but this article is limited to exploring why Hong Kong banks may be required to do so for money laundering reasons. The money laundering offence in Hong Kong law The offence of “money laundering” is prosecuted in Hong Kong under section 25(1) of the Organized and Serious Crimes Ordinance, Cap. 455 (“OSCO”)...

Low Federal Interest Rate Provides Unique Gifting Opportunity Through GRATs
Dinsmore & Shohl LLP, September 2020

For the last several months, local and national economies have struggled due to the COVID-19 pandemic. To mitigate the downturn, the federal government reduced interest rates to near zero. This reduced rate has created a unique estate planning opportunity for individuals who hold assets they expect will appreciate, who wish to make lifetime gifts to their lineal descendants, and who wish to make such gifts without incurring annual or lifetime gift tax liability...

Buchalter COVID-19 Client Alert: Entrapment-by-Estoppel: A Potential Future Defense for Lenders in PPP Fraud Cases
Buchalter, September 2020

By: Joshua M. Robbins, Michael C. Flynn, and Robert S. Gillison The past decade has taught lenders much about regulatory enforcement risk.  In the fallout of the 2008 financial crisis and collapse of the housing and related markets, the Department of Justice and other agencies aggressively stepped up investigations of lenders seen as complicit in the misconduct of borrowers and others...

Section 30A(6) of the Bankruptcy Ordinance (Cap.6): Care to be Exercised by Creditors when Making Objections to Automatic Discharge from Bankruptcy
Deacons, September 2020

In the recent case of Re Shum Tung Lam formerly known as Shum Wan Man [2020] HKCFI 1720, the Court of First Instance was asked to clarify the requirements under section 30A(6) of the Bankruptcy Ordinance (Cap. 6) (BO) which governs objections made by creditors or trustees to the automatic discharge of a bankrupt from bankruptcy...

Court of Appeal Reaffirms Three Core Requirements to Wind Up Foreign Company
Deacons, September 2020

Under section 327 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32), the Court can exercise its discretion to wind up a foreign-incorporated company. A recent case reaffirms the three core requirements necessary to enable the court to exercise that discretion...

Compliance with DIFC Data Protection Law 2020 – Deadline 1 October 2020
Afridi & Angell, September 2020

DIFC entities have until 1 October 2020 to ensure that their data processing activities are compliant with the new Data Protection Law (DIFC Law 5 of 2020) (the DP Law). Who is subject to the DP Law? • DIFC entities.• Non-DIFC entities that regularly engage with DIFC entities as part of a “stable arrangement”, which involve data being processed in the DIFC and/or transferred out of the DIFC. Practical Guidance 1. Maintain a record of Personal Data. 2...

COVID-19: Entry into the Emirates of Dubai and Abu Dhabi
Afridi & Angell, September 2020

On 12 September 2020, the UAE Ministry of Health and Prevention (MoHAP) reported 1007 new COVID-19 cases in the UAE. With the number of cases rising both within the UAE and in most other countries, the UAE government has reiterated the importance of adhering to preventive guidelines and has further placed safeguards, particularly in Abu Dhabi, to ensure that those traveling to the UAE are confined to prevent the transmission of the virus...

Definition of Healthcare Provider Narrowed in revised FFCRA regulations
Waller, September 2020

The U.S. Department of Labor (DOL) announced Friday Friday that it had revised the Families First Response Act (FFCRA) in response to a recent ruling by a federal court in New York. The new regulations are effective September 16 and represent a significant change for healthcare entities who previously (and correctly) used “blanket” denials of FFCRA requests for all of their employees...

Hotel Bankruptcies: 8 Key Issues for Hospitality Advisors
Buchalter, September 2020

The COVID-19 pandemic has forced many hospitality professionals and their clients to confront bankruptcy, insolvency, and loan workout issues for the first time since the Great Recession.  Chapter 11 presents a host of unique issues for hotels and other hospitality businesses...

The Quetzal will Soar its Flight: The public + The private: the winning alliance By Ignacio Grazioso
QIL+4 ABOGADOS, September 2020

Ten years ago, the PPP Law was approved, the regulatory framework that seeks to make the Public Private Partnerships (“PPPs”) viable as a solution to the country's infrastructure deficit. For reasons beyond legal and economic facts, Guatemala has not yet seen its first PPP project born. However, the planets seem to be aligning to propitiate the possible detonation of investment in infrastructure and we see reasons for optimism on the horizon...

Disability and Remote Work
QIL+4 ABOGADOS, September 2020

Teleworking is a work tool that opens a world of possibilities for the reinsertion of sectors of the population that have not had free access to work opportunities. It is a feasible option to provide job opportunities to people for whom moving outside their homes is a limitation; limitations that could occur not only to people with family responsibilities – child and elderly care – or students, but also to people with disabilities...

Telework in Guatemala
QIL+4 ABOGADOS, September 2020

Although in Guatemala there is no legal frame for “Telework”, it could be said that it is a way in which services are provided in a location other than the employer's office or headquarters. What makes this modality so attractive? What is the key to make it work? The key is in TECHNOLOGY, in the innovative and efficient use of tools that allow us to be connected without being anchored to a specific place...

California Supreme Court Clarifies Bounds of Legitimate Competition Under Tort and Antitrust Law
Buchalter, September 2020

On August 3, 2020, the California Supreme Court issued its highly anticipated decision in Ixchel Pharma, LLC v. Biogen, Inc., clarifying the bounds of legitimate competition under California tort and antitrust law.  The Court’s ruling generally came down in favor of encouraging competition, reducing claims for tortious interference with contract, and decreasing the risk of litigation arising from normal competitive activity...

Everybody in the Pool! – The SEC Expands the Definition of Accredited Investor
Dinsmore & Shohl LLP, September 2020

The Securities and Exchange Commission (SEC) recently adopted a new amendment that adds additional categories of persons eligible to meet the accredited investor definition, expanding the pool of capital available to the private capital markets. Background Under the Securities Act of 1933 (Act”), offerings for the sale of securities must be registered with the SEC...

Individual Chapter 11 Cases Under New Subchapter V
Bradley Arant Boult Cummings LLP, September 2020

IN BRIEF The current economic decline caused by the COVID-19 pandemic will result in a surge of debtors in need of bankruptcy protection. Subchapter V to the rescue! Despite some burdens on debtors, the advantages to individuals under Subchapter V will make it substantially easier for individuals to confirm Chapter 11 plans...

An Introduction to Trade Secrets: What They Are and Why They Matter to Your Business
Lavery Lawyers, September 2020

  One of the most common questions we receive as intellectual property lawyers is “How can I prevent others from using technology that I have developed and that has significant value to my business?” That question can often be answered by advising clients to file a patent application. However, there exists another type of intellectual property protection, known as a “trade secret,” that may be more suitable for certain situations and technologies...

Newly Enacted California Consumer Financial Protection Law (AB 1864) Reorganizes and Renames Financial Institutions Regulator for Expanded Oversight of Certain Consumer Financial Services Innovation Sector
Buchalter, September 2020

By: Michael Flynn and Melissa Richards Introduction California has enacted a new California Consumer Protection Law (CCFPL), California Financial Code Section 90001 et seq.  The CCFPL will convert the Department of Business Oversight (DBO) into a new Department of Financial Protection and Innovation (DFPI).  AB 1864 was sent to the California Governor on September 4, 2020 for signature, and he is expected to sign within thirty (30) days...

Three Important Ways the COVID-19 Pandemic is Changing the Delivery of Consumer Financial Services
Spilman Thomas & Battle, PLLC, September 2020

  The world continues to come to grips with the daily changes brought by the COVID-19 pandemic. Schools contemplate opening. Some do, while others do not. Some professional and college sports teams play games to empty stadiums. Some businesses are open, with restrictions, while others are not. Lawsuits are being filed by businesses that think they should be permitted to reopen like their neighbors who already have...

DIFC Increases Scope and Fines
Afridi & Angell, September 2020

The DIFC has expanded the scope of the common reporting standards, meaning more people must make filings plus increased fines for non-compliance. With effect from 16 August 2020, DIFC Law 6 of 2020 (the CRS Law Amendment Law) was enacted to amend the Common Reporting Standard (CRS) Law, DIFC Law 2 of 2018 (the CRS Law). This enactment follows the issuance of the new CRS Regulations, which came into effect on 30 July 2020...

Buchalter COVID-19 Client Alert: The Future of California Evictions in the COVID Era - California Judicial Council Votes to End Statewide Eviction Moratorium
Buchalter, September 2020

On Thursday, August 13, the California Judicial Council elected to rescind Emergency Rules 1 and 2 related to eviction and foreclosure actions in California applicable to both residential and commercial properties, effective September 1, 2020. Emergency Rules 1 and 2, previously put in place on April 6, prevented all unlawful detainer and foreclosure actions statewide, except in cases of public health or safety...

 

 

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